What would happen if we re-distributed the world’s 1%’s wealth back to the 99%?
(Not as a permanent thing but as a one time reset)
Best Answer, of the 77, in my opinion is by Joe James:
Give everyone on earth one chicken.
75% of the people decide that chicken would taste great. So they roast their chickens, have one excellent meal, then are hungry again tomorrow.
24% of the people realize their chicken is an egg factory, so they enjoy one egg every day for a few years until the chicken dies.
1% of the people figure out that if they mate their chicken with a rooster they can raise a whole bunch of chickens. In a few years they will have more fresh eggs and chickens than they could eat.
So as a one time reset you haven’t changed a thing. Everything is exactly as it was.
Next best is by Rob Weir:
We would soon be back where we are today, certainly within a generation.
The issue is that the poor are not poor because they lack money. The poor are poor because they lack the means of making money. Give them a sudden influx of cash and they will spend it, but be no more productive than they were before. Once the money is spent they will be poor again. Similarly the wealthy are wealthy because they know how to produce goods and services that others want to buy. That advantage is not eliminated by taking away their wealth. (Of course, doing it continuously may remove their motivation, but causing them to stop producing would hurt everyone, including the poor…